Republicans Fail To Counter President Biden’s Popularity, Success In Kicking Economy Into High Gear
Stories this week have made clear that the American economy is revving back to life thanks to President Biden’s American Rescue Plan, which has given communities across the country the funds to not only recover from the crisis but come back stronger than ever. As jobless claims fall, stimulus checks go out to millions of Americans and communities use ARP funds to rev up local economies, the American Rescue Plan is delivering on all fronts to bring our country back from this crisis.
Despite its success, Republicans like Senator Ron Johnson are doubling down on their opposition to the American Rescue Plan, including vocal opposition to the direct $1,400 checks that continue to get direct relief to Americans when they need it most. GOP attacks on the American Rescue Plan have fallen flat as polls show that the majority of Americans including many Republicans support Biden’s plan.
Read what economic experts are saying about President Biden’s American Rescue Plan is revving up the economy and also how Americans are seeing the direct benefits:
Alan Blinder, Professor Of Economics And Public Affairs At Princeton, In The Wall Street Journal: Welcome to Joe Biden’s Boom Economy. “Welcome to the Biden boom. While the first quarter of 2021 is history, the data are still coming in. “Forecasts” of real economic growth, based on partial data, now run in the 7% to 8% range. More important, there is a good chance the stellar first quarter won’t be a flash in the pan. The Wall Street Journal’s recent poll of economists registered an average forecast of 6.4% growth over the four quarters of 2021.” [Wall Street Journal, 4/21/21]
- Blinder: The American Rescue Plan Is “Giving The Economy A Big Shot In The Arm Right Now.” “Enter President Biden, and exit GOP support. In its first major legislative achievement, the Biden administration managed to get the $1.9 trillion American Relief Plan passed last month—with no Republican votes. The plan is giving the economy a big shot in the arm right now.” [Wall Street Journal, 4/21/21]
Washington Post: “As President Biden Approaches His 100th Day In Office, He Confronts A Much Different Economy Than The One That Existed When He Was Sworn In.” “As President Biden approaches his 100th day in office, he confronts a much different economy than the one that existed when he was sworn in. Hiring is picking up rapidly after backsliding in December. Hunger is decreasing. The number of families behind on rent fell by more than 2 million in March. The widely tracked S&P 500 stock market index has notched at least 21 records since Biden took office, the most seen by any president in his first 100 days since John F. Kennedy. And business optimism is rebounding in both the manufacturing and service sectors, albeit from low levels.” [Washington Post, 4/22/21]
- Nela Richardson, Chief Economist At Payroll Processor ADP, “It’s Really The Stimulus That’s Made The Difference In The Economic Recovery.” “‘It’s really the stimulus that’s made the difference in the economic recovery,’ said Nela Richardson, chief economist at payroll processor ADP. ‘We’re going to celebrate a lot of good economic data,’ she added.” [Washington Post, 4/22/21]
- The U.S. Census Bureau Recorded The Lowest Levels Of Pandemic-Era Food Insecurity As President Biden Nears 100 Days In Office. “As recently as December, 1 in 7 adults said they sometimes or often did not have enough to eat, according to a U.S. Census Bureau survey conducted every couple of weeks during the pandemic. That has now fallen to 1 in 11 — the lowest level recorded since the survey began in April.” [Washington Post, 4/22/21]
- A New Jersey Mom Said That After Receiving Her Family Received Their Stimulus Payment, Her “Fridge Is Full Again” And Her Bills Are Paid. “The recent $1,400 stimulus payments that have gone out to roughly 160 million Americans have provided an immediate cash infusion to help pay rent and buy food until other forms of aid come through. Amy Berrios, a mom in Camden, N.J., is among those who says her ‘fridge is full again’ and her bills are all paid after she received the stimulus via direct deposit in March. Berrios, her disabled husband and her 3-year-old daughter all qualified, giving the family a $4,200 financial boost.” [Washington Post, 4/22/21]
Washington Post: Despite Dark Predictions From Trump About What Would Happen To The Economy Under A Biden Presidency, “The Rebounding Economy Is Headed For Its Best Year Since 1984.”Throughout last year’s campaign, President Donald Trump issued a series of increasingly dark predictions about what would happen if Joe Biden were elected. ‘If he gets in, you will have a depression the likes of which you’ve never seen. Your 401(k)s will go to hell and it’ll be a very, very sad day for this country,’ Trump said in the Oct. 22 candidate debate. “Instead, the rebounding economy is headed for its best year since 1984, according to the International Monetary Fund. The U.S. economy likely expanded in the first quarter at an annual rate of 6 percent and should accelerate in the months ahead, economist Ian Shepherdson of Pantheon Macroeconomics told clients this week. More than 1.3 million jobs have been added since the election.” [Washington Post, 4/22/21]
Douglas Holtz-Eakin, Head Of The American Action Forum, Said That Republicans Are “Struggling To Put Together Their Message” As They Continue To Defy Their Constituents And Oppose The American Rescue Plan. “Republicans have lashed Biden’s $1.9 trillion American Rescue Plan as unnecessary given the economy’s emerging strength and as being poorly designed, because some of the direct payments will go to households earning as much as $150,000 annually. But so far, none of the attacks have drawn much support beyond the GOP base. A Gallup poll last month found that 63 percent of Americans backed the Biden plan. ‘They’re struggling to put together their message,’ said Douglas Holtz-Eakin, head of the American Action Forum, a self-described center-right policy institute.” [Washington Post, 4/22/21]